Quarterly Results Show Mixed Signals
Ola Electric posted a consolidated net loss of Rs 336 crore for the June quarter. The figure marks an improvement from Rs 428 crore a year earlier. Revenue from operations dropped 45 percent to Rs 455 crore. That compares with Rs 828 crore in the same period last year. Total income reached Rs 484 crore including Rs 29 crore of other income. Expenses fell sharply to Rs 620 crore from Rs 1,065 crore previously.
Sequential Momentum Builds
Performance improved notably from the March quarter. Revenue surged roughly 72 percent from Rs 265 crore. The net loss narrowed from Rs 500 crore sequentially. Orders nearly doubled to 44,071 from 22,522 in the prior quarter. Deliveries climbed to 39,192 from 20,256. Registrations jumped about 99 percent to 43,921. Market share in electric two-wheelers rose to 8.4 percent from 5.1 percent.
Technology And Cost Focus
The company says artificial intelligence now spans sales and registration. It also covers fulfilment service and cell research. Operating EBITDA loss narrowed to Rs 164 crore from Rs 281 crore. Gross margin slipped to 30.5 percent from 38.5 percent. Gross profit rose to Rs 139 crore. Management targets steady-state quarterly operating expenses near Rs 300 crore. Current quarterly opex stands around Rs 333 crore.
Capital Raise And Audit Flag
In June the firm raised roughly Rs 780 crore via a qualified institutions placement. It allotted 217.6 million shares at Rs 35.86 each. The issue was 56 percent oversubscribed. An auditor highlighted an accounting matter at subsidiary Ola Cell Technologies. It involves liquidated damages and a milestone extension request. The request sits pending with the Ministry of Heavy Industries. Ola describes its next phase as one of “disciplined scale”.
